Every practice needs a way to accept an electronic form of payment. Traditionally online payments are easy to set up using services like Paypal, Stripe, Square, etc. What if we told you that an average practice could save upwards of $25,000 annually by using ACH payments. Yes – these are cheaper, as minimal processing fees are involved, and now there is an easy way to tap into this money-saving feature on your website!
Cut Down on Credit Card Charges
Accepting payments with ACH is the way to go. It’s 0.8% compared to 3%. You’ll save on unnecessary charges while increasing your profits!
Save upwards of $25,000 Annually
We performed a case study for a small-sized practice located in the suburbs of a large city. The ACH Payments option could have saved this practice over $25,000!
Self-fund Your Marketing Campaigns
Why not self-fund your marketing campaign? You can save money and invest that saved cash in order to grow your practice. Investing that saved money in your marketing campaign can turn that $25,000 into over $100K!
Why ACH over Credit Cards?
ACH payments are typically cheaper for the provider, as minimal processing fees are involved. Credit Card Fees can go to 3% per transaction whereas with ACH payments there’s a flat 0.8% fee capped at $5.
ACH payments can also be set up to automatically recurring, which can save you time and hassle in the long run.
Additionally, ACH payments are more secure than credit cards as they do not require customers to enter their sensitive credit card information on your website. Credit card numbers can be stolen and used for fraudulent purchases, but bank-level security measures protect ACH payments.
ACH payments can also help you stay organized and efficient – all your transactions will be in one place. Overall, ACH payments can be an excellent option for businesses of all sizes.
Practice Tech Solutions
Healthcare providers can save a lot of money by implementing ACH payments on their medical websites.
ACH payments are a type of electronic payment that is processed through the ACH network. This network is used by banks and financial institutions to process electronic transactions. ACH payments are typically cheaper than credit card payments, which can save healthcare providers a significant amount of money.
There are many benefits of using ACH payments for healthcare websites. ACH payments are convenient for patients and can be processed quickly and easily. ACH payments are also more secure than credit card payments, which is important for healthcare websites.
Healthcare providers can save a significant amount of money by implementing ACH payments on their medical websites.
In this case study, we took payment data for a small-sized practice located in the suburban area of a large city. To compare the fees charged by Credit Card companies to the fees charged by ACH Payments.
The practice’s total revenue from payments received in the last 12 months was a little over $1,000,000.
The practice’s total expense on Credit Card fees was $30,000.
If this practice had used our ACH Payment systems, assuming all the payments came from ACH payments, the total fees would have been $5,000. This would have saved $25,000 in expenses, adding to the overall profit increase.
In another case study, we took similar data from a practice located in a large city suburb but in this case, they accepted insurance and we looked at the transactional data for the last 6 months. We found that their potential savings could have been up 76% by using ACH payments.
The practice’s total revenue in the last 6 months was $25,000.
They paid a total of $750 as fees on Credit Card payments.
Imagine just by implementing ACH Payments on your healthcare website; you take the benefit of 76% OFF on the transaction fees.
In the case of this practice, they would only have to bear $175 in transaction fees expenses instead of $750.
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